The Smith Group



149 Crepe Myrtle Ct.
Aiken, SC 29803





Life and Long Term Care Insurance

Life insurance provides either a stated sum or a periodic income to your designated beneficiaries upon your death. Certain "life events" such as marriage, the birth of a child, or a change of jobs trigger the need to buy or add life insurance. Deciding that you need life insurance is the first step. The next step, deciding what kind of life insurance, is where we can help. We offer a variety of policies to fit a variety of needs.

Universal Life

Universal Life insurance is similar in design to Term Life insurance but has an additional feature that allows you to put extra funds into the policy over and above the life insurance cost. These excess funds are entered into an interest bearing account where they grow on a tax-advantaged basis. You may accumulate significant cash value over the years and, in some circumstances, "borrow" the appreciated funds without paying taxes on the borrowed gains. As long as the policy stays in force the borrowed funds do not need to be repaid, but interest may be charged to your cash value account.

Whole Life

 A traditional Whole Life insurance policy provides both a death benefit and a cash value component. You can borrow this cash value to pay for unforeseen expenses, education or even to supplement retirement income. Many Whole Life insurance policies let you participate in the profits of the insurance company by receiving "dividends" and let you choose what you want done with your dividends, from building cash value, to buying additional "paid up" amounts of Whole Life insurance coverage, to even helping pay your policy's premiums.

Long-Term Care

 Long-Term Care is the only insurance plan that offers protection from exhausting your savings for a long-lasting illness or disability. Half a million Americans fall into poverty while paying for long-term care. Medicare covers a small fraction of long-term care and it is limited to skilled nursing care, which isn't the same as custodial care - the kind of long-term care most people need. Some private health insurance plans cover a month or two of skilled nursing after a hospital stay, but that's all. To qualify for Medicaid, you must deplete most of your assets and contribute nearly all of your income to meet the program's poverty requirements. Planning ahead with a Long-Term Care policy can protect you and your family from losing your life savings to pay for needed services if you become chronically ill or infirm.

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Check the background of this financial professional on FINRA's BrokerCheck